The Surgical Stapling Devices market is expected to reach nearly USD 8.5 billion by 2026. The market is likely to grow with 8.4% CAGR during the next eight years.
The factors such as increasing awareness about the Surgical Stapling Devices and its applications is anticipated to boost the market growth. Also, the introduction of powered surgical devices and increasing need for tissue & wound management is expected to further drive the market.
From the past few years, the operational shift in healthcare industry with the technological integrations is creating an immense opportunity for the industry solution providers. The surgical stapling devices are one of such devices with more improved version of stitching used for internal as well as external wound during surgeries. The manufacturers of surgical stapling devices are currently facing an increasing demand for these devices. The factors such as rising awareness about the availability of advanced medical solutions such as surgical stapling devices and its usage is expected to drive the market growth over forecast period. Also, increasing health care expenditure in emerging economies in Asia Pacific, Middle East, and others is likely to boost the surgical stapling devices market.The other factors such as implementation of advanced technologies to perform endoscopic procedures and rise in bariatric procedures are expected to boost the demand for these stapling devices from hospitals and other healthcare services providing organizations.
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The North America and Europe region are dominating the global surgical stapling devices and are likely to retain their position over forecast period. Being the quick adopter of new technologies in healthcare sector, the North America region is holding a lion’s share in the overall market in terms of revenue in 2017. The rise in bariatric surgeries, introduction of powered staples, and growing need for tissue and wound management is expected to fuel the demand for surgical stapling devices in this region over forecast period.
The Europe region is second largest market for surgical stapling devices following North America. European countries are also some of the early pioneer countries in terms of adopting a technically advanced equipment and this factor is boosting the growth of surgical stapling devices and hence driving market growth. On the other hand, the Asia Pacific region is anticipated to register highest CAGR growth rate over forecast period due to the increasing expenditure by healthcare service providers on delivering an improved healthcare solutions to their patients. The rapid changes in lifestyle and increasing disposable incomes resulting into increasing diseased population and this is expected to create an immense scope for growth of this market in this region. Also, the increasing number of patients is leading to increase in the surgical operation and hence expected to drive the surgical stapling devices market.
The leading players present in the surgical stapling devices market are currently undergoing rapid product innovations and focusing on untapped markets to fuel revenue pocketing process through the sale of surgical stapling devices. The companies including Ethicon, Inc., Stryker Corporation, and Covidien plc (Medtronic plc) are some of prominent players present in this market and expected to hold maximum market share combined. Other than these, Zimmer Holdings, Inc., Conmed Corporation,Smith & Nephew plc, Cardica, Inc., CareFusion Corporation, Alcon Laboratories Inc., and others are some of the leading players catering to this market.